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The Agricultural Bank of China says it will launch its Hong Kong public offering on Wednesday, comprising a total of more than 25.4 billion Hong Kong shares.
The Hong Kong public offering is expected to close next Tuesday. Trading of the bank's Hong Kong shares on the main board of the Hong Kong stock exchange is expected to start on July 16.
The Beijing-based AgBank has set the Hong Kong IPO price range at 2.88 Hong Kong dollars to 3.48 Hong Kong dollars. The net proceeds from the IPO will be sued to strengthen the banks's capital base to support ongoing growth of its business.
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